ESTIMATION OF TWO STOREYED RESIDENTIAL BUILDING

ESTIMATION OF TWOSTOREYED
RESIDENTIAL BUILDING

Estimation
is the process of finding an estimate, or approximation, which is a value that
is usable for some purpose even if input data may be incomplete, uncertain, or
unstable. The value is nonetheless usable because it is derived from the best
information available.Typically, estimation involves "using the value of a
statistic derived from a sample to estimate the value of a corresponding
population parameter".The sample provides information that can be
projected, through various formal or informal processes, to determine a range
most likely to describe the missing information. An estimate that turns out to
be incorrect will be an overestimate if the estimate exceeded the actual
result,and an underestimate if the estimate fell short of the actual result.

How
estimation is done?

Estimation
is often done by sampling, which is counting a small number of examples
something, and projecting that number onto a larger population.An example of
estimation would be determining how many candies of a given size are in a glass
jar. Because the distribution of candies inside the jar may vary, the observer
can count the number of candies visible through the glass, consider the size of
the jar, and presume that a similar distribution can be found in the parts that
can not be seen, thereby making an estimate of the total number of candies that
could be in the jar if that presumption were true. Estimates can similarly be
generated by projecting results from polls or surveys onto the entire
population.

Uses
of estimation

In
mathematics, approximation describes the process of finding estimates in the
form of upper or lower bounds for a quantity that cannot readily be evaluated
precisely, and approximation theory deals with finding simpler functions that
are close to some complicated function and that can provide useful estimates.
In statistics, an estimator is the formal name for the rule by which an
estimate is calculated from data, and estimation theory deals with finding
estimates with good properties. This process is used in signal processing, for
approximating an unobserved signal on the basis of an observed signal containing
noise. For estimation of yet-to-be observed quantities, forecasting and
prediction are applied. A Fermi problem, in physics, is one concerning
estimation in problems which typically involve making justified guesses about
quantities that seem impossible to compute given limited available information.